82 FR 50871 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 211 (November 2, 2017)

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Notifications Related to Community Development and Public Welfare Investments of State Member Banks (FR H-6; OMB No. 7100-0278).

[Federal Register Volume 82, Number 211 (Thursday, November 2, 2017)]
[Notices]
[Page 50871]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-23861]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Notifications Related to Community Development and Public Welfare 
Investments of State Member Banks (FR H-6; OMB No. 7100-0278).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503 
or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instrument(s) are placed into OMB's public docket files. 
The Federal Reserve may not conduct or sponsor, and the respondent is 
not required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB control number.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Notifications Related to Community Development and 
Public Welfare Investments of State Member Banks.
    Agency form number: FR H-6.
    OMB control number: 7100-0278.
    Frequency: Event-generated.
    Respondents: State member banks.
    Estimated number of respondents: Post Notification, 20; Application 
(Prior Approval), 71; and Extension of divestiture period, 1.
    Estimated average hours per response: Post Notification, 2 hours; 
Application (Prior Approval) 5 hours; and Extension of divestiture 
period, 5 hours.
    Estimated annual burden hours: Post Notification, 40 hours; 
Application (Prior Approval) 355 hours; and Extension of divestiture 
period, 5 hours.
    General description of report: The Board's Legal Division has 
determined that the public welfare investment notice, request for 
approval, and request for extension of the divestiture period are 
authorized by the Federal Reserve Act, (12 U.S.C. 338a), and by the 
Board's Regulation H, (12 CFR 208.22). The obligation of state member 
banks to make public welfare investments under both the Reserve Bank 
post-notice and the Board's prior approval procedure is mandatory. The 
request for extension of the divestiture period is required to obtain a 
benefit. Individual respondent data generally are not regarded as 
confidential. However, a bank that submits confidential proprietary 
information may request confidential treatment of that information 
pursuant to section (b)(4) of the Freedom of Information Act (FOIA) (5 
U.S.C. 552(b)(4)). Such a determination would be made on a case-by-case 
basis in response to a specific request for disclosure. If examination 
ratings are included in a submission, those will be considered 
confidential under exemption 8 of the FOIA, (5 U.S.C. 552(b)(8)).
    Consultation outside the agency: Given that most community 
development entities obtain funding from a variety of local and 
regional financial institutions, Board staff consults with other 
agencies' staff to discuss applications relating to such investments, 
as appropriate.
    Current actions: On August 11, 2017, the Board published a notice 
in the Federal Register (82 FR 37589) requesting public comment for 60 
days on the proposal to extend, without revision, the FR H-6. The 
comment period for this notice expired on October 10, 2017. The Board 
did not receive any comments. The information collection will be 
extended as proposed.

    Board of Governors of the Federal Reserve System, October 30, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-23861 Filed 11-1-17; 8:45 am]
 BILLING CODE 6210-01-P